Buy Hero MotoCorp; target of Rs 3626: Khambatta Securities

Khambatta Securities is bullish on Hero MotoCorp has recommended buy rating on the stock with a target price of Rs 3626 in its research report dated February 09, 2017.

February 13, 2017 / 17:33 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Khambatta Securities's research report on Hero MotoCorp

Net revenues in the quarter went down by 11.9% yoy and 18.4% qoq as volumes were hurt by the DeMon announced in November. There was a sudden fall in demand post DeMon, more in the rural markets (50% of Hero’s volumes) due to which volumes declined by 19.2% qoq and 12.3% yoy.

Outlook

Due to this, margins may get hurt up to some extent, but will stay afloat due to localization and LEAP program. Viewing this, we have reduced our estimates but have maintained our BUY rating with a reduced target price.

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first published: Feb 13, 2017 05:33 pm

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